Cyanco launches $75 million incremental term loan at 99.75 OID

By Sara Rosenberg

New York, Oct. 24 – Cyanco Intermediate 2 Corp. launched on Wednesday its $75 million incremental covenant-light first-lien term loan (B2/B) due March 2025 with price talk of Libor plus 350 basis points with a 0% Libor floor and an original issue discount of 99.75, according to a market source.

The incremental term loan has 101 soft call protection for six months, the source said.

Deutsche Bank Securities Inc., RBC Capital Markets, Societe Generale and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on Tuesday.

Proceeds will be used to refinance existing debt.

Cyanco is a Pearland, Texas-based supplier of sodium cyanide used for the extraction of gold and silver.

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